Forbes Africa has rated Nigeria as the 2018 best economy in Africa and Benedict Peters, awarded Africa’s Oil and Gas Leader of the Year at the Forbes Best of Africa Gala, which held at Forbes Headquarters, New York City.
According to Forbes, Nigeria came top with $172 billion, which was followed by South Africa with $166.735 billion. Also on the list was Egypt as third with $78 billion, Algeria with $66 billion, Libya with $65 billion, Botswana with $22.675 billion, Ghana with $20.458 billion, Morocco with $18 billion, Ivory Coast with $11 billion and Madagascar with $6.766 billion.
On presenting the award Mike Perlis, CEO and Vice-Chairman of Forbes Media said:
“Recipients are singled out for their work in bringing prosperity to all 55 countries of the African continent.”
“Peters’ ascendancy in Africa’s Oil and Gas sector has been exemplary as well as revolutionary. His company, Aiteo, has thrived for about two decades – going from a downstream start-up to becoming a leading integrated energy conglomerate with strategic investments in hydrocarbon (or commodities) exploration and production.
Peters reinvented himself in times of great personal challenge. He resurrected his identity and reputation while battling injustice. He proves that inspirational leadership in a difficult industry is possible.”
Dedicating the coveted award to all Aiteo employees worldwide, Mr. Benedict Peters, the founder of Aiteo Group said:
“The acknowledgement by Forbes as Oil and Gas Leader of 2018 is inspiring. It means a lot to me and the entire Aiteo Group. I am delighted that the International community recognises our contribution towards Africa’s self-sufficiency in energy and our aspiration to become a reference point for indigenous capacity in oil and gas.
This award motivates us to broaden our vision for the continent, despite all odds, and accelerate her economic transformation. We believe that Africa has what it takes to lead the world and we will continue to push the frontiers of development through our investments in people and technology. The success of our Oil and Gas Upstream subsidiary proves that the future we envision in Africa rests to a large extent in the hands of Africans.”
Aiteo is currently the highest producing indigenous oil E&P company in Nigeria.